‘I know how to do math’: New Red Lobster CEO says endless shrimp deal is not coming back
CEO Damola Adamolekun confirmed that the $20 endless shrimp offer will not be part of the new menu. Instead, nine new dishes are being introduced, including a comeback of hush puppies
Shrimp enthusiasts may find a notable absence in Red Lobster’s updated menu.
During a Monday interview with TODAY, CEO Damola Adamolekun revealed that the seafood chain’s revised menu will feature nine new items ranging from lobster bisque to bacon-wrapped sea scallops. However, he unequivocally stated that the $20 endless shrimp special has been permanently discontinued.
“We aim for Red Lobster to be relevant, appealing, and exciting in the future, and we’re working towards that,” Adamolekun explained to TODAY.
In the previous year, Red Lobster transformed all-you-can-eat shrimp into a staple menu item after offering it seasonally for two decades. This change, initiated by former CEO Paul Kenny, incurred an $11 million cost and left the company with “burdensome supply obligations,” as noted by subsequent CEO Jonathan Tibus in a May bankruptcy filing.
Though there was speculation regarding the potential return of this controversial offer, Adamolekun rejected the idea, citing, “because I know how to do math.”
What are the new items?
The updated menu at Red Lobster features nine new items, although not all have been disclosed yet, according to Adamolekun.
So far, he mentioned these nine dishes:
- Hush puppies
- Bacon-wrapped sea scallops
- Lobster bisque
- Lobster pappardelle pasta
- Grilled mahi
- Parmesan-crusted chicken
“I predict a rush to our restaurants because we’re bringing back the hush puppies,” Adamolekun said, referring to a dish that had been removed in recent years. “I actually stopped dining at Red Lobster when they got rid of the hush puppies. I’ve loved them since my college days. I’m thrilled they are returning.”
What has Red Lobster CEO previously said about ‘endless shrimp’?
Adamolekun has “always been skeptical” about the seafood chain’s choice to offer the $20 endless shrimp deal, sharing with CNN in an October interview that shrimp is a “very costly product to provide in unlimited quantities.”
Red Lobster opted to establish this deal as a permanent menu item last year, nearly 20 years after it was previously available only seasonally. According to Adamolekun, this decision led to “chaos” at restaurants across the country.
“It puts stress on the kitchen, the servers, and the host staff. Customers struggle to find a table,” Adamolekun told CNN.
While Adamolekun had mentioned in October that he would think about reinstating the offer, he did not commit to it, citing profitability issues.
“I can’t say never, but definitely not in the same way it was done previously,” he noted. “We won’t do it in a manner that results in financial loss and that’s poorly managed.”
Who is the new CEO of Red Lobster?
Damola Adamolekun was appointed as the new CEO of Red Lobster in August.
This Nigeria native comes to the company with extensive experience, having previously served as CEO and Chief Strategy Officer at P.F. Chang’s and as a partner at the New York investment firm Paulson & Co.